Lou Manzi Collection Realizes a Grand Total of Over £1 Million after Part 2 of Spink Sale

Posted on 10/14/2019

The top lot in Spink’s second Manzi auction was a PMG-certified Bank of England White Note, which realized £48,000.

On October 10, 2019, notes certified by Paper Money Guaranty® (PMG®) helped bring the grand total of The Lou Manzi Collection of English Banknotes sale, presented by Spink & Son Ltd., to over £1 million (over $1.2 million USD). The impressive sum reflects the quality, depth and reputation of the collection, which featured hundreds of United Kingdom banknotes, some dating back to the 18th century.

The top lot in Part 2 of the sale was a Bank of England 1797 £1 – London graded PMG 20 Very Fine, which realized £48,000 (about $60,000 USD), including the buyer’s premium. It is an Abraham Newland issue with serial number 2. Newland was the chief cashier at the Bank of England from 1782 to 1807, and his name became synonymous with banknotes, as his signature meant one was genuine. This is the earliest-known example of a Bank of England £1 note in existence, as the whereabouts of number 1 are unknown.

Bank of England 1797 £1 – London graded PMG 20 Very Fine, Price Realized: £48,000 (about $60,000 USD)
Click image to enlarge.

“We have never seen such a comprehensive group of rare and high-quality notes form the Bank of England,” said PMG Finalizer Chad Hawk. “It’s a collection that put a spotlight on the world of British paper money.”

Many of the PMG-certified highlights can be viewed in an online image gallery at PMGnotes.uk/manzi.

Other PMG-certified highlights included:

On the same day as the Manzi sale, Spink also presented Part 2 of the A.J. Simms Collection of Bank of England Issues and Other Properties, notable for its own rarities from the Bank of England. The top lot was a Bank of England 1929-34 £100 – Bristol graded PMG 55 About Uncirculated that realized £26,400 (about $33,000 USD), far above its pre-auction estimate.

For more information about PMG’s certification services, visit PMGnotes.com or PMGnotes.uk. For more information about Spink auctions, visit Spink.com.

Prices realized include buyer’s premium.

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